Australia’s goods trade surplus narrowed sharply to $1.83 billion in August 2025 (from $6.61 billion in July), as exports fell and imports rose.

• Goods exports declined by -$3.55 billion (-7.8% MoM) to $41.9 billion, led by a -$2.95 billion (-47.2% MoM) fall in non-monetary gold.

• Rural goods exports rose slightly by +$0.20 billion (+3.1% MoM) to $6.64 billion, while non-rural goods exports decreased -$0.80 billion (-2.5% MoM) to $31.8 billion.

• General merchandise exports edged down -$0.60 billion (-1.5% MoM) to $38.5 billion, continuing to weigh on total credits.

• Goods imports increased by +$1.24 billion (+3.2% MoM) to $40.0 billion, driven mainly by consumption goods.

• Consumption goods imports rose +$0.70 billion (+5.8% MoM) to $12.7 billion, the largest contributor to the overall import rise.

• Capital goods imports increased +$0.18 billion (+1.8% MoM), while intermediate goods imports added +$0.32 billion (+2.0% MoM).

• Non-monetary gold imports also grew modestly by +$0.04 billion (+2.9% MoM).